China’s March car sales rise

China’s automobile sales rose in March for a second month, boosted by strong demand for sports utility vehicles (SUV) and trucks.

Sales of alternative-energy vehicles rose even faster, although their share of total car sales stayed lower than at end-2022.

Automobile sales of 2.45mn in March rose by 10pc from year-earlier levels, according to China Association of Automobile Manufacturers.

Sales of SUVs rose by 13pc and sedan cars by 5pc. Truck sales rose by 17pc.

Sales of alternative-energy vehicles rose by 35pc and accounted for 31pc of China’s total automobile sales. The share was up from year-earlier levels of 25pc, but down from a record 36pc in November.

The rise in sales of alternative-energy vehicles slowed sharply from the start of this year following the ending of a tax benefit on the purchase of these vehicles at end-2022.